QXO, Inc. (NASDAQ:QXO – Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 9,350,000 shares, an increase of 25.0% from the February 28th total of 7,480,000 shares. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 2.4% of the company’s stock are sold short.
QXO Stock Up 3.9 %
Shares of QXO stock traded up $0.55 during midday trading on Wednesday, hitting $14.73. The company had a trading volume of 2,888,354 shares, compared to its average volume of 2,186,634. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -1.62, a PEG ratio of 4.09 and a beta of 2.35. QXO has a 12-month low of $10.61 and a 12-month high of $290.00. The company has a fifty day simple moving average of $13.25 and a 200 day simple moving average of $14.75.
Institutional Investors Weigh In On QXO
Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. purchased a new position in QXO in the 3rd quarter worth $24,130,000. The Manufacturers Life Insurance Company purchased a new position in shares of QXO in the third quarter worth about $1,522,000. BNP Paribas Financial Markets acquired a new stake in shares of QXO during the third quarter worth about $166,000. Townsquare Capital LLC purchased a new stake in QXO in the third quarter valued at approximately $276,000. Finally, Arizona PSPRS Trust acquired a new position in QXO in the 3rd quarter worth approximately $2,099,000. 58.68% of the stock is owned by hedge funds and other institutional investors.
QXO Company Profile
QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.
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